Tejas Networks, a telecom and network firm, on Thursday said an arm of Tata Sons will acquire controlling stake in it for nearly Rs 1,890 crore in a multi-step deal. The company has executed definitive agreements with Panatone Finvest, a subsidiary of Tata Sons (Tata group holding firm), it said in a statement. As part of the agreement, the company will make a preferential allotment of 1.94 crore equity shares at a price per equity share of Rs 258 per share aggregating to Rs 500 crore to Panatone.
General Motors' Tavera recall prompts Union government to formulate a stricter policy.
According to analysts, IT firms like Infosys, TCS and HCL Technologies are likely to benefit the most on account of larger US exposures and dollar billing.
Crisil Ratings on Wednesday said a broad-based recovery is on for India Inc currently, and upgraded its credit quality outlook to 'positive' from the earlier 'cautiously optimistic'. The rating agency said the credit ratio, which illustrates the number of upgrades to downgrades, rose to over 2.5 times in the first four months of the fiscal, as compared to 1.33 times in the second half of FY21, it said in a statement. The rating agency said it has also done a study of 43 sectors, excluding the financial sector, accounting for 75 per cent of the overall Rs 36 lakh crore in outstanding debt, which shows that the current recovery is broad-based.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
The Adani Group on Friday said it has acquired 27.26 per cent equity stake in NDTV from Prannoy Roy and his wife Radhika Roy -- founders of the news broadcaster. "RRPR, an indirect subsidiary of the company and member of the promoter/promoter group of NDTV, has acquired a 27.26 per cent equity stake in NDTV from Prannoy Roy and Radhika Roy by way of inter-se transfer...," said a regulatory filing from Adani Enterprises. On December 23, Prannoy Roy and Radhika Roy had announced to sell 27.26 per cent out of their remaining 32.26 per cent shareholding in the NDTV to the Adani Group.
'While the US-Pakistan relationship has been stabilised, it's still mired in uncertainty.'
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
'Reservation for the private sector is a bad idea.'
Former CFO V Balakrishnan seeks exit of Infosys chairman, co-chairman R Seshasayee, co-chairman Ravi Venkatesan, audit committee chairman Roopa Kudva and nomination committee chairman Jeffrey S Lehman.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
TCS is confident of achieving a double-digit revenue growth in the current fiscal and will be targeting a similar performance in FY24 as well, a senior executive said on Tuesday. The largest IT services exporter's ability to achieve the number in FY24 will hinge on how the macroeconomic situation, including geopolitical tensions, commodity price pressures, inflation and financial tightening worries, play out, chief operating officer N Ganapathy Subramaniam told PTI. "(For) this year (FY23), probably we are there (double-digit growth).
He says that while 30 per cent of parts must be locally sourced, the supply doesn't yet exist in India to support that
Total debt for listed Indian companies excluding financials fell only 4 per cent to $368 billion in the year ended in March 2015.
Balakrishnan, head of the BPO, Finacle and India business units at Infosys, is widely seen as a contender for CEO after the incumbent S D Shibulal's term ends in 2015.
Continuing their massive selling spree for the ninth consecutive month, foreign investors dumped Indian shares worth Rs 50,203 crore in June -- the highest net outflow in over two years -- amid aggressive rate hike by the US Federal Reserve, elevated inflation and relatively higher valuation of domestic equities. Foreign portfolio investors (FPIs) have now pulled out around Rs 2.2 lakh crore from domestic equities in the first six months of 2022 -- the highest-ever net withdrawal by them. Before that, FPIs withdrew Rs 52,987 crore in the entire 2008, data with depositories showed.
S.Kumars chief Nitin Kasliwal is charged with non-performance by company shareholders in the recently help AGM of the company.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
Expressing disappointment over RBI's decision to hike the key policy rate, real estate developers said this would lead to increase in finance cost and also affect housing demand during the festive season.
Microsoft top boss Satya Nadella feels the increase in productivity has come at the price of burning the 'social capital' built up by companies over very many years, observes ad guru Sandeep Goyal.
The chief of the British telco's Indian subsidiary, which is the second largest cellular operator in India, also said the recent decisions by telecom authorities have disappointed the sector.
This comes in the wake of allegations of financial irregularities by the erstwhile management led by Harish Moolchandani.
US auto major Ford Motor Co on Friday said it and India's Mahindra & Mahindra have decided to scrap their previously announced automotive joint venture and it will continue its independent operations in India as it is. The two companies determined that they will not complete a previously announced automotive joint venture between their respective companies. The decision follows the passing of the December 31, 2020 'longstop' or expiration date of a definitive agreement the organisations entered into in October 2019, Ford Motor Company said in a statement.
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
Analysts are of the opinion that 55 may emerge as the new age to retire for techies in India
Sebi said Thapar-promoted and -related entities owed Rs 1,723.19 crore as receivables to the company, while connected parties owed another Rs 462.74 crore.
Retail inflation hit an eight-month high of 6.07 per cent in February, remaining above the RBI's comfort level for the second month in a row, while wholesale price-based inflation soared to 13.11 per cent on account of hardening of crude oil and non-food item prices, government data showed on Monday. The previous high for retail inflation was 6.26 per cent in June 2021. The consumer price index (CPI) based retail inflation, which is taken into account by the Reserve Bank of India (RBI) while deciding its monetary policy, rose mainly because of costlier food items, as per the data released by the National Statistical Office (NSO).
On the capital raising, where there are reports of the bank needing at least Rs 20,000 crore to spring back to normalcy, Yes Bank administrator Prashant Kumar declined to give an estimate of the requirement but said it would like for most of the fund raising to happen in the first round itself.
Firm to prune domestic costs through initiatives such as voluntary separation
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The benchmark has gained 2 per cent this week on continued hopes the incoming Narendra Modi government would unveil substantial economic reforms.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
Recently, ex-Google executive Punit Soni joined FLipkart.
Firm evaluating options, could spend over $400 million.
Kamil's elder sister Samina Vaziralli has taken on an expanded role
Tata Motor's owned Jaguar Land Rover (JLR) on Tuesday reported a 68 per cent increase in retail sales for the first quarter ended June 30 at 124,537 units as compared with the same period of the previous fiscal, reflecting the continuing recovery in demand from the COVID 19 pandemic. The company had retailed 74,067 units in the April-June quarter of 2020-21. However, wholesales, in particular, were lower than demand would have permitted due to semiconductor supply issues affecting the global auto industry, JLR noted in a statement.
'In 2022, active management, long-short strategies, multi-asset strategies, and asset allocation strategies need to be considered to meet long-term investment goals.'
Digital payments and financial services firm Paytm has filed a draft red herring prospectus for its proposed Rs 16,600-crore initial public offering (IPO) with the Securities and Exchange Board of India.
This year saw no improvement in bilateral ties as India accused Pakistan of cross-border infiltration and re-activation of terror-launching pads near the LoC.
Reliance has around 90,000 telecom towers now, half of which are operational and owned by the RIL and rest on lease.
The world's top brands across sectors might lose between $93 billion and $223 billion because of a data breach, a first-of-its-kind study by Interbrand and Infosys, called 'Invisible Tech, Real Impact', has found. This represents 4-9.6 per cent of their cumulative value. The study gains significance in the backdrop of yet another massive hack, this time of Microsoft's email software, which is estimated to have affected at least 60,000 known victims globally, according to Bloomberg. The study found that there is a long-term impact of data breaches on brands across sectors.
